Goa RERA frames norms to return registration fees to builders
02 Nov 2021
2 Min Read
CW Team
The Goa Real Estate Regulation and Development Act (RERA) has framed norms to return the registration fee paid by the real estate agent or builders.
The real estate agents will have to pay up to Rs 1 lakh, and real estate developers will have to pay between Rs 50,000 to Rs 10 lakh for registration with RERA. But if the registration is rejected, the current norms would not return the funds.
The promoter may demand the withdrawal of the registration application of the real estate projects within 30 days of submitting it to the authority. For such cases, the registration fee of 10% or Rs 50,000 is retained as processing charges, and the remaining amount is to be refunded in 30 days.
Real estate brokerage companies will have to submit up to Rs 1 lakh to register, and the individual real estate agent will have to pay Rs 10,000 for registration.
RERA may deduct 1% of the registration fee or Rs 1,000 and return the remaining amount for exempted real estate projects.
The real estate builders who need to withdraw their registration application within 30 days will have to forfeit 10% or Rs 50,000, and the remaining amount will be returned.
The real estate brokers who plan to retreat their registration in 30 days will be charged 10% of the registration fee and return the remaining amount. For rejected applications, 10% or Rs 50,000 will be deduced.
Goa RERA said that all unclaimed fees would be considered as revenue, and the future claims will be decided on a case to case basis.
Also read:
The Goa Real Estate Regulation and Development Act (RERA) has framed norms to return the registration fee paid by the real estate agent or builders.
The real estate agents will have to pay up to Rs 1 lakh, and real estate developers will have to pay between Rs 50,000 to Rs 10 lakh for registration with RERA. But if the registration is rejected, the current norms would not return the funds.
The promoter may demand the withdrawal of the registration application of the real estate projects within 30 days of submitting it to the authority. For such cases, the registration fee of 10% or Rs 50,000 is retained as processing charges, and the remaining amount is to be refunded in 30 days.
Real estate brokerage companies will have to submit up to Rs 1 lakh to register, and the individual real estate agent will have to pay Rs 10,000 for registration.
RERA may deduct 1% of the registration fee or Rs 1,000 and return the remaining amount for exempted real estate projects.
The real estate builders who need to withdraw their registration application within 30 days will have to forfeit 10% or Rs 50,000, and the remaining amount will be returned.
The real estate brokers who plan to retreat their registration in 30 days will be charged 10% of the registration fee and return the remaining amount. For rejected applications, 10% or Rs 50,000 will be deduced.
Goa RERA said that all unclaimed fees would be considered as revenue, and the future claims will be decided on a case to case basis.
Image Source
Also read: TNRERA gets 483 real estate agent registrations
Next Story
3i Infotech Reports Rs 7.25 Bn Revenue for FY25
3i Infotech, a leading provider of digital transformation, technology services and technology solutions, announced its consolidated financial results for the fourth quarter and full year FY25, ended on March 31st, 2025. The company maintained its growth momentum, displaying consistent progress for the 3rd consecutive quarter.In Q4 FY25, 3i Infotech reported revenue of Rs 1.87 billion, reflecting steady performance compared to Rs 1.81 billion in Q3 FY25 and Rs 1.97 billion in Q4 FY24. The company delivered strong profitability improvements, with gross margin growing by 14.8 per cent Q-o-Q and 1..
Next Story
Emerald Finance Joins Baya PTE to Boost SME Bill Discounting
Emerald Finance is a dynamic company offering a spectrum of financial products and services including its flagship Earned Wage Access (EWA) in India, has entered into a strategic partnership with Singapore-based Baya PTE through its Indian subsidiary. This collaboration aims to strengthen bill discounting services for Small and Medium Enterprises (SMEs), enabling faster access to working capital and improved cash flow management.The initiative is designed to support SMEs that supply to large corporates such as JSW Steel, Delhivery, and PVR INOX, among others. By facilitating timely invoice dis..
Next Story
BLS E-Services Crosses Rs 5 Bn Revenue Mark in FY25
BLS E-Services, a technology-enabled digital service provider, announced its audited consolidated financial results for the quarter and full year period ended 31 March 2025.Speaking about the performance and recent updates, Shikhar Aggarwal, Chairman, BLS E- Services said, 鈥淲e are delighted to report a remarkable performance in FY25, as we achieved several milestones during the fiscal year. FY25 marked our highest-ever financial performance, as we surpassed Rs 5 billion milestone in Total Income during the year, which was reported at Rs 5.45 billion, a notable YoY growth of 76 per cent. The ..
